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20121205
20121213
Search Results 0 to 9 of about 10 (some duplicates have been removed)
the pieces coming together on the fiscal cliff some increase in marginal tax rates coupled with some kind of cutting back on tax expenditures. the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not clear that the republicans will agree to including a debt limit increase in that kind of package and if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration has been clear they will not sign anything. even to get past december 31st. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also, the concern will be an administration overstepping or overream reaching and trying to jam in the kinds being discussed now. i'm all in favor of getting rid of the debt limit. it makes no sense from a technical perspective. but it's probably a br
, ands or buts on that specific aspect of the fiscal cliff. >> with respect to the tax rates, i want to emphasize, i am open to new ideas. i'm not going to slam the door in their face. i want to hear -- i want to hear ideas from everybody. >> that's not a no. here is the treasury secretary timothy geithner. >> there's no agreement that doesn't involve the rates going up on the top 2%. >> not necessarily going up to the clinton era rates. just going up. today at a press conference at the capital, boehner got a question about this. listen carefully to how he responded or didn't respond. >> you did speak with the president earlier this week. can you characterize this call? and also we understand that he just is making clear that it's got to be increasing rates for the wealthy or no deal. are you willing to give a little bit? maybe just not all the way to 39.6? >> the phone call was pleasant, but just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president, if he's serious, to come back to us with a counteroffer. >> not a no on
would still go over the fiscal cliff. remember, the bush tax cuts are one of the at least stimulative policies in the negotiations. according to the economic policy institute, extending the middle class tax cuts would wipe out only about 11% of the austerity's economic impact. 11%. but all that other stuff, the payroll tax cut, the unemployment insurance, the sequester, all that, that would still be expiring. so come early next year, the economy would likely be entering an austerity-induced recession. markets would be convulsing as they realize our austerity crisis is about to become also a default crisis. and so the economy, as a whole, is going to be going nuts. poll after poll already shows republicans are receiving more blame for the potential failure of the debt talks. and after telling the press they're going to make a strategic decision to use a debt ceiling as more and more dangerous leverage, they're likely going to get blamed for that, too. and that will be much worse in the polls. republicans may believe the white house can be so afraid of default that it would simply capit
Search Results 0 to 9 of about 10 (some duplicates have been removed)